BrightStar announces new investments
MILWAUKEE, Dec. 9, 2016 – BrightStar Wisconsin Foundation Inc. today announced that it has committed $550,000 to three new companies, Access HealthNet, Onkol, and Rent College Pads. The investments bring the BrightStar portfolio to 32 companies in less than three years of investing.
“These investments show that we have effectively stepped up to fulfill our mission of funding innovative, job-creating early-stage companies in Wisconsin,” said BrightStar investment committee member and donor Michelle Picard, portfolio manager at Henderson Geneva Capital Management. “We have created a unique model to support companies that are committed to job creation. With the ongoing support of generous donors who share our goals, we will continue to actively invest in Wisconsin companies that will help the state’s economy continue to grow.”
“This round is exciting because BrightStar made investments in companies with unique technology products designed to lower employer health care costs, fill off-campus student housing, and support the assisted living and in-home care providers,” said BrightStar board member Adam Berger, partner and vice president of Doering Fleet Management. “The companies varied in stage, expertise and industry. We expect rapid growth from all three during the next 24 to 36 months. That’s great for Wisconsin and in keeping with BrightStar’s mission.”
Please note that the IRS has chosen to make permanent the IRA charitable contributions rules. As a result, individuals over 70½ can elect to make a tax-free donation of up to $100,000 to a charity of their choosing from their IRA. Please contact BrightStar Wisconsin if you would like to learn more about how to use this new rule to support our foundation.
About the BrightStar Wisconsin Foundation Inc.
BrightStar is a 501(c)(3) non-profit foundation created to facilitate job creation and increase Wisconsin’s economic activity by deploying donated funds into equity stakes in early-stage, rapid growth companies. This new approach will enable the formation of new investment capital in Wisconsin through charitable donations to the foundation. Contributions to BrightStar are tax deductible.